The keynote speech of Udo Braendle in 13th NCM

The keynote speaker of the conference is professor Udo Braendle from American University in Dubai and Chair of the Business and Management Department.

His keynote speech in 13^th NCM is about one of the challenging topics in the fields of management and business:

New Challenges in Corporate Governance and Corporate Social Responsibility

Abstract

Recently, Malcolm McIntosh, in his book “Thinking the 21st Century: Ideas for a New Political Economy”, supported capitalism but castigated the current institutions, structures, and interpretations of neoliberal capitalism. He proposed five system changes necessary for the emergence of a new political economy in the 21st century. One of the fundamental changes is about the transformation and reorganization of the current model of capitalism and its constituting institutions into more balanced and harmonious ones that take into account connectivity, accountability, transparency, networks, values, relationships, enablement, entrepreneurship and rethinking the meaning of capital (economic, social, environmental, cultural, etc.). This change is based on one fundamental question: “how can we make the enterprise a spur to ingenuity serving all humanity and not simply a conduit for individual greed?” Visser (2011) and others suggested a transformative approach to corporate governance (CG) and corporate social responsibility (CSR) that goes beyond CG and CSR as managerial strategies. Such transformative ideas are questioning the rationale for the theories of the firm, the place of business within society, and the raison d’être behind the existence of these institutions (Piketty, 2014).